Greystone supplied a $24.9 million mortgage insured by the Division of Housing and City Improvement (HUD) for the refinancing of the 120-bed expert nursing facility Adira at Riverside, in Yonkers, N.Y.
The financing was originated for L&A RE Acquisition, LLC, by Greystone managing director Fred Levine, with Shia Fishman of Capital Stack Advisors appearing as correspondent on the financing, in accordance with a press launch saying the transaction.
The ability was in-built 2000 and features a licensed respiratory and ventilator unit, short-term rehabilitation, amputee rehab, wound care, neuro-rehabilitation, licensed cardiopulmonary rehabilitation, and long-term expert nursing care, amongst different providers.
The refinancing decreases the repeat borrower’s rate of interest whereas extending the time period and amortization of the mortgage general.
$19.5M Nursing Dwelling Authorized in Rockland, Maine
Development on a $19.5 million, 96-bed nursing residence will start within the fall of this 12 months, the Bangor Daily News reported Thursday, with the power slated to interchange two amenities managed by Pen Bay Medical Middle.
The brand new challenge will save the hospital about $2 million a 12 months, in accordance with the publication. It was initially slated to price $16.5 million, however planning officers in Rockland indicated the value elevated because the challenge was proposed. Sandy River Co., which operates nursing houses throughout the state, is the developer of the challenge and would oversee the power together with Pen Bay Medical Middle, Bangor Each day Information reported.
The brand new facility will embody non-public rooms and larger resident entry to outside house, the publication famous; one of many two amenities being changed by the brand new challenge presently requires residents to share rooms, regardless of being the newer of the 2 crops.
The ability is projected to open in 2023.
Capital Funding Group Units File in Q1, With $800M+ in Financing
Capital Funding Group financed greater than $800 million for shoppers in bridge-to-HUD and HUD loans within the first quarter, together with 13 bridge loans and 31 HUD loans, in accordance with a press launch.
The loans embody $285 million in bridge-to-HUD financing for the acquisition of a talented nursing portfolio with 16 amenities within the Mid-Atlantic area.
In its function as a supplier of financing options for well being care amenities, Capital Funding Group works with the long-term care, assisted residing, and hospital sectors.